|
CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF NET POSITION Statement 1
<br />December 31, 2024
<br />Governmental Business-Type
<br />Activities Activities Total
<br />Assets:
<br />Cash and investments $42,329,271 $13,492,069 $55,821,340
<br />Accrued interest receivable 248,791 - 248,791
<br />Due from other governments 2,844,173 5,487 2,849,660
<br />Accounts receivable - net 71,923 693,259 765,182
<br />Prepaid items 613,505 183,377 796,882
<br />Internal balances (2,368,218) 2,368,218 -
<br />Inventory - 85,378 85,378
<br />Taxes receivable 437,386 - 437,386
<br />Special assessments receivable 2,984,514 2,286 2,986,800
<br />Leases receivable 1,583,577 - 1,583,577
<br />Net pension asset 695,585 - 695,585
<br />Capital assets - nondepreciable 7,585,564 7,290,166 14,875,730
<br />Capital assets - net of accumulated depreciation 59,292,019 49,495,628 108,787,647
<br />Total assets 116,318,090 73,615,868 189,933,958
<br />Deferred outflows of resources:
<br />Pension related 5,319,229 122,256 5,441,485
<br />OPEB related 297,911 - 297,911
<br />Total deferred outflows of resources 5,617,140 122,256 5,739,396
<br />Liabilities:
<br />Accounts payable and other current liabilities 4,073,025 283,270 4,356,295
<br />Due to other governments 77,062 14,777 91,839
<br />Accrued interest payable 178,231 3,092 181,323
<br />Unearned revenue 90,867 - 90,867
<br />Deposits payable 2,978,397 4,600 2,982,997
<br />Other post employment benefits:
<br />Due in more than one year 737,331 103,700 841,031
<br />Long-term liabilities:
<br />Due within one year 2,441,030 429,428 2,870,458
<br />Due in more than one year 14,463,949 914,219 15,378,168
<br />Net pension liability:
<br />Due in more than one year 4,463,956 307,207 4,771,163
<br />Total liabilities 29,503,848 2,060,293 31,564,141
<br />Deferred inflows of resources:
<br />Lease related 1,583,577 - 1,583,577
<br />Pension related 6,670,897 235,557 6,906,454
<br />OPEB related 369,579 - 369,579
<br />Total deferred inflows of resources 8,624,053 235,557 8,859,610
<br />Net position:
<br />Net investment in capital assets 50,860,601 53,198,585 104,059,186
<br />Restricted (nonexpendable) for environmental purposes 100,000 - 100,000
<br />Restricted (expendable) for:
<br />Debt service 3,920,983 - 3,920,983
<br />Park improvements 1,263,854 - 1,263,854
<br />Public safety 601,134 - 601,134
<br />Economic development 739,254 - 739,254
<br />Fire Department pension plan 695,585 - 695,585
<br />Other purposes 57,581 - 57,581
<br />Unrestricted 25,568,337 18,243,689 43,812,026
<br />Total net position $83,807,329 $71,442,274 $155,249,603
<br />Primary Government
<br />The accompanying notes are an integral part of these financial statements.
<br />33
<br />Page 69 of 353
|